'Everything is gone' in the midwest land market

Stock photo
Stock photo
Jim O'Brien

Jim O'Brien

Auctioneers are reporting a busy end to the season with one auctioneer telling me 'everything is gone.' GVM Limerick had a strong finish to the year on the private treaty front selling quite a few smaller farms, reports Jim O'Brien.

Included in the list of late sales were properties that had been in the auction room.

Among the latter is a 48ac farm at Laught, Lisnagry on the outskirts of Limerick that sold by private treaty to a local farmer for a figure believed to be in the region of €600,000.

Located just 15 minutes drive from Limerick City the farm is across the road from Ahane school, close to the University of Limerick, Plassey Technological Park and Junction 28 on the M7 motorway.

The property has extensive road frontage and includes a farmhouse in need of complete modernisation along with dated farm buildings

It was originally divided for sale into a number of lots with the first lot consisting of the farmhouse and out offices on 19ac.

The second is made up of 13ac of ground while the third is a 16ac parcel with frontage on to two roads. The last is a 0.5ac parcel of raised bog at Annaholty, Birdhill. A local farmer bought the entire.

In a separate sale a 7.5ac grass field, also at Laught, Lisnagry and accessed by a right of way made €85,000 or over €11,300/ac.

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At Drombanna on the outskirts of Limerick City a 24ac parcel of ground located just off the Limerick to Kilmallock road made in the region of €350,000 and was bought by a local farmer.

Laid out in four fields of grass the holding has good frontage on to a side-road and includes a derelict farmhouse and an old yard. According to Tom Crosse the land was once tilled and is the best of ground.

Closer to Kilmallock a 10ac parcel of ground at Grange on the Meanus road was sold at auction for €50,000. The field is described as a good place for winterage being on the stony side. It made €5,000/ac when bought by a local farmer.

Moving from the southern side of the city to the eastern end of the county a 50ac parcel of ground on the fringes of Pallasgreen with frontage on the main Limerick/Waterford road was bought by a local farmer for a price believed to be somewhere around €450,000 or €9,000/ac. Described as made up of mainly good ground with a bit of low lying land the holding has 200m of frontage on to the N24.

CLARE GRAZING GROUND

In Co Clare a 47ac roadside farm at O'Callaghan's Mills which was on the market for some time sold for a price believed to be in excess of €300,000.

Located in East Clare on the road between O'Callaghan's Mills and Tulla the lands are 24km east of Ennis. Described by Tom Crosse as a mix of good quality grazing ground and summer grazing laid out in regular divisions and well fenced the place has extensive road frontage.

A small yard on the property includes a shed and holding pens.

While the road frontage has some site potential the main interest came from the farming sector and the place was bought by a local farmer who paid around €6,400/ac for the farm.

Mr Crosse says that late autumn is turning out to be a good time to sell land.

"Farmers have collected their basic payments and with dairy having had a good year they feel like spending," he said.

Mr Crosse acted for the farmer that bought Ballybrenogue House and farm on 104ac at Cullen near Monard on the Limerick/Tipperary border. It sold under the hammer in November for €1.25m or €12,000/ac.

"The man I was acting for told me he looked at the farm in the early summer but didn't feel he had the money. On the day of auction there were about a dozen farmers in the room to buy the place. Also, the banks seemed to have loosened the purse strings of late," he said.

Indo Farming


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